Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Petitioner argued non-receipt of notices preceding impugned assessment orders. Partnership firm discontinued business, carried on by proprietor. Court held petitioner neglected intimating firm's dissolution, surrendering PAN. Transactions made from firm's account despite alleged proprietorship. Returns filed from firm's address. Huge transactions observed. Respondent rightfully passed order u/s 144 read with 147 due to non-reply. Petitioner individually assessed requiring detailed consideration. Court quashed impugned orders, treating them as addenda to show-cause notices. Petitioner to pre-deposit Rs. 50,00,000 within eight weeks to Income Tax Department. Opportunity granted to file reply.
Petitioner argued non-receipt of notices preceding impugned assessment orders. Partnership firm discontinued business, carried on by proprietor. Court held petitioner neglected intimating firm's dissolution, surrendering PAN. Transactions made from firm's account despite alleged proprietorship. Returns filed from firm's address. Huge transactions observed. Respondent rightfully passed order u/s 144 read with 147 due to non-reply. Petitioner individually assessed requiring detailed consideration. Court quashed impugned orders, treating them as addenda to show-cause notices. Petitioner to pre-deposit Rs. 50,00,000 within eight weeks to Income Tax Department. Opportunity granted to file reply.
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